Show 60 r Ogden Sunday August 17 1986 iall" school spec Business solution which the credit union leader don't want to talk about Cash from publicly "But 1D There is a general and outspoken agreement among credit rjion executives that new car nancing is one of two factors at the root of their severe excess quidity problems j I" We've pretty much lost the new car financing which was our bread and butler for many years" Call said Dawson and Bringhurst said essentially the same thing rrhe credit unions have lost to the- auto manufacturers who began offering incentive financing a year ago in an effort to bolster their sagging sales volume At times the manufacturers have dropped their financing rates on some models to as low as half of what the credit unions can offer The other factor contributing to the liquidity problem is the practice of credit unions to pay higher interest rates than their competitors in the banking and savings and loan industry "Wc are more member conscious than the privately owned financial firms" Bringhurst said "As as result we try to keep the rates we pay as high as possible and the rates we charge low" Credit union executives agree one answer to their growing quidity problem appears rather simple: Reduce interest rates they pay to a point where it will slow the inflow of deposits to a manageable level That is a painful "Back t0 "It is a serious dilemma" said Dawson agreeing with both Bringhurst and Call that "its always a temptation to go after the potentially 'big' returns promised by high risk investments" One source for placing the excess funds is the Corporate Central Credit Union a national association formed years ago by the credit unions to act as an investment clearing house However that organization can't always guarantee a rate of return any higher than the individual credit unions can get on their own As a result several are turning to alternate investment sources they feel are "innovative yet safe" "We're going heavy into recreational vehicle financing first mortgages and lines of credit" Call said Bringhurst is getting into home equity loans home improvement loans and is considering looking at consumer lending America First is also moving into those areas and recently got together with Hertz in Salt Lake City in a financing project that Dawson said is both unique and promising "Hertz assembled a large number of cars it had lor sale in a big lot one Saturday" Dawson said "We had loan officers present who offered to finance the purchase of those cars famous Lee Western Jeans for kids students and young men do have to wake up to reality and accept the necessity of lowering our dividend rates" Bringhurst said "We've got to get the spread back" The "spread" is the difference between what the credit union pays for the money its members deposit and what it charges for loans "When we could invest our funds in certificates of deposits or government securities drawing 5 to 18 percent interest we could pay 10 or 12 percent and still have an acceptable 5 percent spread" Bringhurst said "Now we're falling down around 2't or 3 percent" The immediate problem facing the credit union executives is to find acceptable avenues of investing their excess liquidity "It's nice to have a lot of money coming in" Call said "But we'e got to invest it or we won't be able to pay any dividends on the savings on deposit by our members" So what docs Dawson do the $29 million of "excess liquidity" America First had last year and the smaller but no less serious quidity experienced by the smaller member owned credit unions? The only answer they agree is to place the funds in investments that will bring a return higher "We made loans for 70 cars than the rates they pay on which brought us about $800000 of new financing" he said savings we ft WESTERN JEANS DON HUGHES has brought Computerization to the Criminal Justice System in Weber County Re-Ele- o Men's Sizes H698 o Student sizes $1598 © Kids Sizes H300 Famous Lee Boot Cut Jeans in 100 cotton denim ct DON HUGHES mm? rtIoXUJU8S OPEN FRIDAY TIL 9 County Attorney Paid Political Adv from Friends of Don Hughes Since 188" 2246 Washington PH LAMPS Yz OFF FREE (Sunday Only) 1 Buy COMPLETE SATELLITE TV SYSTEM and Comptot SYSTEM RacaWef a dish with 10' Dish manually operated Poiarotor LNA Tha Quality Now Lowest Prica In America At cab! COFFEE END TABLES MOSAIC TILE OFF FLOOR CERAMIC! 50-5- 7 kitchen e Elegant Italian Import e Stalrweftlttant 10" 7'A" lfl" TV" l— tal etogant eddttkw to any home! e BeauttM prewcxed flnWil mm RCGtiAi9 rir'iiu- - vMii J SAVE 31! TILE ?SSf 12' mi v iriaivn ha Will IIU'MKA SAVE ON $ 1 1 2HO-- SALE 99 PRICE C99 MCE SJ R00R 12 Weekdays 12- - to 7 Sat ft t rui Sunday 12 to lpa § 47 270 f 5 12th ST OGDEN 'ill- J iji 90 "HI NO w$ 6 TILE "drktl H r iinliiMimn Decorating advice Fn P£ CL Installation guides use of $ALE 3"5 9 satisfaction guaranteed Personalized service selection of product patterns colors designs Expert advice with instructive videos and Installation guides Guarantee on paint wallcovering and sheet vinyl projects Wide sun 6rip 13 1 & tools! 4043! WHY SHOP COLOR TILE? TILE SALE special ceramic cutting 1 Many detlgner patterns e Eatyar Check tagtt REG 6 999 W tec 7951 SALE Days INTEREST LAYAWAYS beartlfullyl easy mtallatioii tlutt 13" SALE turface WALLCOVERINGS Q99 iwtr—"— heavy tramc nattem! a vanatll mm "rc t! j OFF! FLOOR 50 SAVINGS! (fl SAVE Color itertor Flat Color Tile Interior Flat 99 t ainaMkwil Specially formulated for mooth easy application a Easy water tmttl ?tnmm mat Nearly New Queen r wji QUALITY LATEX PAINT BUYS! T — —— h rz & BOX u0 aa wen £t SALtWWi SALE OFF! WALL CERAMIC IMPORTS FLOOR CERAMIC CLEARANCE BUYS! RED PAVER & BOX 50 toyer hallway SALE MATTRESS MATTRESS tile & 1 1 Q We cheerlully give you refunds on ail unused rolls of wallcovering! w lull uncut Sell Only 1st Quality! rtncUnALI£tD SLRVICc! We SALE ENDS AUG 23! Customer Service Makes All The Difference!" discount on regular price items lor senior citizens Where 10S Thanks to you vrsA f&w'?' af 'J 323© Wash Blvd JKMrtiltllQH for ALL OF US uy SALE OFF! SOLID OAK FLOORING Nearly New Twin $127 $ m Billion Of Tile Fet Mounted on nwtri becking for quick traUOatkxil Check U(I Appnx (4 ft ehMt 4 moral 32 INSTALLED SWIVEL ROCKERS & 15 Since 19531 Umh Full M658 Over Square Sold SALE L7tM TOP OF LINE SYSTEM II Remote Tuner and Actuator TRUE POLAR MOUNT py— MP0RTED MOSAIC TILE 10' ALUMINUM MESH DISH BIG v nd ur i r t n— i We've slashed prices on every mosaic We we cany -aIt'ss'l 1st quality! HALF-PRIC- E Durably glazed for kitchens baths Check tagsl Approx iq ft thMtl $£8 WW TOTAL VALUE ff ti3l PRICED BUT TRUE! UNBELIEVABLY O irfh& a tXtgillZ "im United Way 3330 Waington DO IT YOURSELF ANO SAVE! STOCE HYP 4 HOURS Mon-F- 9 am to 8 pm Sot 9 am to 5:30 pm Sun 12 noon to 4:00 pm NOTH COiO KJPflMAITS laata 399-929- tlv4 e PATTERNS MAY VARY STORE e SATISFACTION GUARANTEED! J |